The Melamine market opened high and then declined.

New orders are being processed according to demand. Overall, there is a lack of substantial improvement in demand, resulting in a decline in downstream product prices and a decrease in production enthusiasm.

Demand is slightly weak, leading to mediocre new order transactions. High-priced inquiries are particularly rare. However, most manufacturers still have pending orders to fulfill, so overall inventory levels are not high and production and sales can maintain a balance. Therefore, the downward trend is relatively slow and the degree of decline is limited. In terms of costs, the price of raw material urea is fluctuating at a high level, with ups and downs, which provides some cost support for melamine.

However, the boost is still limited. Currently, the operating rate of melamine companies fluctuates above 60%, and the supply of goods is relatively abundant. Only in some areas where there are more pending orders or production facilities are shut down, the supply is tight. Most downstream markets still follow their own circumstances and cautiously observe the market outlook.

Remark: The analysis is based on transaction in China’s domestic market, it’s only for reference.